The Reserve Bank of India has started a “one way” mode for old style banknotes of 100; 10 and 5 rupees dated 2015 or before. These are being retired when deposited to banks. This does not affect their legal tender status. These notes can be freely used. Eventually, when they become scarce in circulation, merchants may refuse acceptance.
Source: Reserve Bank of India.
*** Would you like to share your comments, corrections or news? Please contact email@example.com
©2021 MRI BANKERS’ GUIDE TO FOREIGN CURRENCY™. All rights reserved.
« More posts